Stock Market Today: Indexes Mixed; Broadcom, Chip Stocks Weigh on Nasdaq, S&P 500 But Dow Jumps; Oil Pulls Back as Israel, Lebanon Agree to Ceasefire

Major U.S. stock indexes opened mixed on Thursday, ending a five-session streak of closing highs. The Nasdaq Composite fell 0.9% and the S&P 500 dropped 0.2%, weighed down by declines in AI-related stocks, including Broadcom, which fell 14%, and cybersecurity firm CrowdStrike, down 7.5%. Marvell Technology and Micron Technology also declined by 5.5% and 7%, respectively. Despite the tech sector underperformance, the Dow Jones Industrial Average rose 1.2%, driven by a 5% jump in UnitedHealth Group shares. The S&P 500’s Information Technology Sector was the worst performer, with nine of the other ten sectors showing gains. Among the Magnificent Seven tech giants, only Nvidia declined. Analysts warned about risks tied to overconcentration in specific sectors, emphasizing the need for investments backed by sustainable cash flows rather than speculative narratives. Investors awaited further details on SpaceX’s upcoming IPO, with a regulatory filing revealing plans to sell 555,555,555 shares at $135 each, potentially raising $75 billion and valuing the company at around $1.75 trillion. Oil prices retreated after Israel and Lebanon agreed to renew their ceasefire, with West Texas Intermediate crude dropping 3.3% to $92.90 per barrel and Brent crude declining 3% to $94.90. Bitcoin fell to $62,600, its lowest level since February, while the U.S. dollar index declined 0.3% to 99.20. The 10-year Treasury yield dipped to 4.46%, and gold futures advanced 1.6% to $4,535 an ounce. Market movements reflected a mix of sector-specific pressures, geopolitical developments, and broader economic indicators.